COLUMBUS, Ohio — Seniors housing and healthcare industry veterans Steve Kennedy and Kass Matt have launched a new finance venture, VIUM Capital. Based in Columbus, the company is an independent financial services firm focused on providing capital to the seniors housing and healthcare sectors. The firm will offer FHA/GNMA financing, bridge loans, and advisory services, as well as Fannie Mae and Freddie Mac agency financing. Prior to founding VIUM Capital, Matt spent 14 years at Lancaster Pollard, including the last five years as the firm’s president. Kennedy spent 18 years …
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As the COVID-19 pandemic upends just about every aspect of life, senior living communities are retooling their marketing strategies. Instead of letting up on sales efforts, communities are finding new ways to communicate supportive messages to prospects while reinforcing their brands with a positive twist. “We recognize the sensitivity around sales and marketing at this time,” said Valerie Whitman, vice president of senior living for LeadingResponse, a Tampa-based customer acquisition service. “We can show the world what we can do for seniors and their families. This is an opportunity for …
Bellwether Enterprise Provides $36.3M Refinancing for Legacy Reserve at Fritz Farm in Kentucky
by Jeff Shaw
LEXINGTON, Ky. — Bellwether Enterprise Real Estate Capital LLC has provided a $36.3 million permanent loan through Fannie Mae’s seniors housing program for the refinance of Legacy Reserve at Fritz Farm. The community opened in Lexington in summer 2017, featuring 144 independent living, 33 assisted living and 15 memory care units. The borrower is owner-operator Atlas Senior Living. John Powell of Bellwether’s Chicago office arranged the 12-year, fixed-rate loan on behalf of Atlas.
DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 60-unit assisted living and memory care community in Dallas. An institutional owner-operator sold the property to a Dallas-based developer, owner and operator looking to expand. The price and name of the facility were not disclosed. The property was “trending toward 75 percent” occupancy with neutral cash flow at the time of sale, according to Blueprint. The median home price within three miles of the community is 72 percent higher than the state average and 44 percent higher …
DALLAS — Three: Living Architecture, a Dallas-based architecture firm with a specialty in seniors housing, has rebranded as simply “three” while expanding and promoting its team. Longtime team member Christine Cook was promoted to the role of principal, while Steven Knox was added as designer and senior job captain, and Catherine Wilson was hired as project manager. Cook first joined three in 1998. In her role as principal, she will guide the design and development process. Cook also continues to spearhead the firm’s internal education committee, called 3.edu, and partner …
IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has hired Darrin Smith as executive vice president of investments. Smith will oversee the investment team and assist the Sabra leadership team on business development opportunities. The company is an Irvine-based publicly traded REIT that invests in healthcare assets, including seniors housing. With over 25 years of real estate experience including 14 years in healthcare real estate, Smith most recently served as senior vice president of seniors housing investments at HCP, another California-based REIT now known as Healthpeak Properties. He …
Monticello Provides $97.2M Acquisition Financing for 856-Bed Skilled Nursing Portfolio in Virginia
by Jeff Shaw
VIRGINIA — Monticello has provided $97.2 million in first lien debt financing for the acquisition of five skilled nursing properties totaling 856 beds in Virginia. The transaction also includes a $8 million working capital loan to the operating companies of the properties. Monticello’s asset-based lending group, Monticello Commercial Capital, provided that capital. The borrower is an owner-operator with a current portfolio of 1,155 licensed beds. The seller, facility names and facility locations were not disclosed.
TAMPA, Fla. — Argentum, an Alexandria, Virginia-based association serving seniors housing owners and operators, has postponed its Senior Living Executive Conference that was scheduled to occur May 18 to May 20 in Tampa. The event will now be held completely virtually and from Sep. 22 to Sep. 24. “In our discussions, we are noting the tremendously challenging work being done by senior living employees at all levels to protect our residents from COVID-19 — work we believe will continue for some time,” wrote James Balda, president and CEO, in an …
ARLINGTON, Texas — Heartis Arlington, an assisted living and memory care community in Arlington, will test all of its 80 residents and 75 staff to detect if anyone in the community has contracted COVID-19. Two positive COVID-19 cases have been identified from Heartis residents who were transferred on March 18 and 22, respectively, to Medical City Arlington after exhibiting symptoms and where they are now being treated and improving. Heartis Arlington enacted advanced staff training to detect symptoms and established protocols in February, and visitor restrictions were put in place …
Senior Living Receives Healthcare Exemptions from Department of Labor for Coronavirus Response
by Jeff Shaw
WASHINGTON, D.C. — The Department of Labor (DOL) issued guidance on Saturday March 28, on key provisions of the Families First Coronavirus Response Act (FFCRA). Of critical importance members is the definition of “healthcare provider” as it related to an employer’s ability to be exempt from the requirements of the act, according to the American Seniors Housing Association (ASHA). Under FFCRA, an employer with fewer than 500 employees must offer 10 days of paid sick leave and up to 12 days of paid emergency family and medical leave under certain …